The Global LED Driver Market size is expected to reach $11.4 billion by 2025, rising at a market growth of 16.6% CAGR during the forecast period. Increased knowledge of energy efficiency and environmental issues, potential marketing of Li-Fi, wireless optical networking data transmission technology, and increased penetration of OLEDs in architectural, industrial and backlight applications. These are factors which would drive market growth over the forecast period.
Global LED Driver Market Size
An LED driver is a self-contained power supply that controls the power needed for an LED or LED array. The light-emitting diodes are low-energy, low-energy illumination devices, and have a long shelf life. These factors prompt towards the need for advanced power supplies. A LED light driver is like a controller; it increases and decreases the power level needed throughout the temperature of the LED. The LEDs would become too hot and unstable without the right LED light driver resulting in failure and poor performance. The self-contained LED driver is required to provide the LED with a managed constant amount of power to make sure the LEDs function perfectly.
Government bodies like local government and municipal utilities and states offer reimbursements to promote installation of renewable energy systems and energy efficiency procedures. These initiatives offer funding for energy saving solutions like solar water heating, bulbs, and photovoltaic (PV) systems. Utilities also provide their commercial and industrial customers with multiple rebates to help them cope with future increases in energy costs. This offers significant energy and economic benefits to the utility and rate payers, and reduces greenhouse gases. That adds value, therefore, to drive the LED market.
Global LED Driver Market Share
Based on Application, the market is segmented into Consumer Electronics, Lighting, Automotive and Others. Based on Supply Type, the market is segmented into Constant Current LED Driver and Constant Voltage LED Driver. Rising demand for IOT-based connected lighting solutions would cater to the expansion of the LED drivers market. This growth can be attributed to the increasing number of smart homes in advanced countries. In addition, Smart City programs have been initiated by governments of different countries to increase the energy efficiency of populated cities, which is expected to further fuel the market. From 2015 to 2018, the market for the constant current LED driver has seen exponential growth; these drivers are commonly used in applications for high brightness and outdoor lighting. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
LED Driver Market Cardinal Matrix
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, NXP Semiconductors N.V., Texas Instruments, Inc., and Toshiba Corporation are some of the forerunners in the LED Drivers Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ON Semiconductor Corporation, Koninklijke Philips N.V., Texas Instruments, Inc., Maxim Integrated Products, Inc., Rohm Semiconductors Co., Ltd., General Electric (GE) Co., Infineon Technologies AG, NXP Semiconductors N.V., STMicroelectronics N.V. and Toshiba Corporation.
» Collaborations, Partnerships and Agreements:
» Acquisition and Mergers:
» Product Launches:
» Expansions:
Market Segmentation:
By Supply Type
By Application
By Geography
Companies Profiled
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